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FutureStarrTarget Pharmacy OOR
Now in the thick of summer, the Target pharmacy in Gainesville has been flooded with calls. In fact, their wait list has been filled for more than two days straight by patients without a prescription and without care.
WOONSOCKET, R.I. and MINNEAPOLIS, Dec. 16, 2015 /PRNewswire/ --CVS Health Corporation (NYSE: CVS) and Target Corporation (NYSE: TGT) announced today that CVS Health has completed the acquisition of Target's pharmacy and clinic businesses for approximately $1.9 billion. With the completion of the transaction, CVS Health acquired Target's 1,672 pharmacies across 47 states and will operate them through a store-within-a-store format, branded as CVS/pharmacy. In addition, a CVS/pharmacy will be included in all new Target stores that offer pharmacy services. Seventy-nine Target clinic locations will be rebranded as MinuteClinic, and CVS Health will open up to 20 new clinics in Target stores within three years of the close of the transaction.
cvshealth.com)"We look forward to helping Target guests on their path to better health through CVS Health's leading clinical programs, such as Maintenance Choice, Pharmacy Advisor and Specialty Connect," said Larry Merlo, CVS Health president and CEO. "In addition, with the Target acquisition we will leverage our unique integrated business model and our scale to drive incremental sales volume and operating profit for the enterprise while providing convenience and cost savings to consumers and payors." (Source:
Statements by Target in this release regarding Target's expected after-tax proceeds from the transaction and the expected impact of the transaction on Target's Segment Sales, EBITDA and EBIT margins, EPS and Adjusted EPS, and ROIC are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements speak only as of the date they are made and are subject to risks and uncertainties that could cause Target's actual results to differ materially. The most important risks and uncertainties include those relating to how Target's guests react to the transaction, the effectiveness of the ongoing relationship between Target and CVS Health, whether Target will recognize the expected benefits from the transaction and the risks described in Item 1A of Target's Form 10-K for the fiscal year ended January 31, 2015.
etail division of CVS Health (NYSE: CVS), is America's leading retail pharmacy with over 9,600 locations. It is the first national pharmacy to end the sale of tobacco and the first pharmacy in the nation to receive the Community Pharmacy accreditation from URAC, the leading health care accreditation organization that establishes quality standards for the health care industry. CVS Pharmacy is reinventing pharmacy to help people on their path to better health by providing the most accessible and personalized expertise, both in its stores and online at CVS.com. General information about CVS Pharmacy and CVS Health is available at www.cvshealth.com. (Source: cvshealth.com)